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How Much Money Can I Save When Buying A Car At Auction?

Friday, February 14th, 2020
car auction buying tips

Getting a car at an auction can potentially save you a lot of money. Whether you are looking for an everyday driver, a work truck, or your dream car, these events offer a great way to get a used vehicle at a great price. Many times, used vehicles at auction have only a few thousand miles and they are in good shape. At other times, you need to be careful what you bid on.

The benefits of getting a used car at an auction

The most well-known benefit of getting a vehicle at auction is the low price. But, you will have to do some research before the event to ensure you get a good deal. You will also likely be able to find a larger variety of vehicles at an auction. Here are some other benefits you should know before going to a used car auction.

  • Sometimes you can find government vehicles. These are usually in good shape.
  • You can see vehicles that are under warranty.
  • You can find a detailed inventory online. This will help you choose which cars you are interested in before you go to the event.

There are some drawbacks to know about before going to an auction as well. You will have to deal with cosmetic issues and potential mechanical problems. You cannot return a vehicle for any reason and you may run into extra costs like fees and repair costs.

Tips for buying a used car at auction

With these benefits and downsides in mind, you can attend a car auction with a little more confidence. But, there are some tips that can help you be even more successful.

  1. Research the vehicles you like before the auction. Look for common prices for the same year and model as the cars you want to bid on. This can help you determine what you are willing to pay.
  2. Always look for a VIN number and check to make sure the car isn’t stolen.
  3. Set a budget and stick to it. Although you are likely to get a great deal at a used car auction, you may be tempted to spend more in a bidding war. Avoid getting too competitive with other bidders.
  4. Get to the event early so you can view the vehicles up for bid.
  5. Learn the rules for the auction house. You don’t want to prepare to buy a car but end up breaking a rule.

So how much can you save at an auction?

The value of a car may not be what the vehicle sells for at auction. You could save anywhere between 20% to 60% on a used car, depending on certain factors. Condition, history, asking price, and your budget all affect the final price you pay. Buying a used car at auction is not the same as going to a dealer, so the answer to this question is not set in stone.

Are you looking for a used car?

If you would like to learn more about purchasing a used car at auction, High Plains Auctioneers can help. We host used car auctions that have a variety of vehicles at our events. You can reach us at (806) 244-6776 or Send Us an email to learn more about us and Our Upcoming Auctions.